NEW YORK | 2740 Webster Ave | 130 FT | 12 FLOORS

[NYguy]

https://therealdeal.com/new-york/2025/04/30/maddd-and-stagg-plan-new-dorm-project-in-the-bronx/

Maddd and Stagg to bring massive dorm project to The Bronx
Bronx builders Mark Stagg and Jorge Madruga partner for the first time


By Keith Larsen
April 30, 2025

Bronx heavyweights Mark Stagg and Jorge Madruga are teaming up.
The developers acquired a site at 2740 Webster Avenue from its long-time owner for $40 million to build a massive dormitory and housing complex, according to Stagg.

Madruga’s Maddd Equities and Stagg’s Stagg Group are planning an 800,000-square-foot development with over 500 dormitories and 485 units of affordable housing, Stagg said. The group is in talks to bring a national grocery store chain to the project as well.

Stagg said the developers plan to break ground on the first phase before the end of the year. He hopes to begin the second phase, affordable housing, the following year. Stagg Group will lead construction.

The dormitories will offer 24-hour security and sit across from Fordham University’s campus, Stagg said.

https://commercialobserver.com/2025/04/l...ties-stagg-group-bronx-land-acquisition/

Libremax Provides $26M to Maddd Equities, Stagg Group for Bronx Land Acquisition
Jorge Madruga and Mark Stagg will build an 800,000-SF mixed-use building


By Brian Pascus
April 30, 2025

Jorge Madruga’s Maddd Equities and Mark Stagg’s Stagg Group have secured $26.5 million for their $40 million acquisition of two lots at 2740 and 2768 Webster Avenue in the Bronx, Commercial Observer can first report.

LibreMax Capital provided the financing, while Cushman & Wakefield (CWK)’s Brad Domenico arranged the credit transaction.

The residential development eyed by Madruga and Stagg has been in the works for five years and aims to bring two adjacent lots together, along with additional air rights from a nearby Metropolitan Transit Authority track, to build the massive mixed-use housing complex.

Fordham University sits directly across the street from the site.

The development is expected to break ground on its first phase before 2025 is out, while construction of the affordable housing component will begin in 2026.

[NYguy]

[Busy Bee]

Any scoop of who the architect is? I know Stagg likes to use Marin, Aufgang, etc. for many of their projects, although the end product is often disappointingly value engineered from the original tease renderings. Hoping for the best here. It's a very visible site and deserves something good looking. The wedge shape of the lot presents some interesting opportunities. Wondering how many floors this will go?

I'm also curious if they're planning on building a ped bridge from the development over the tracks directly into Fordham campus... That would make a ton of sense.

[NYguy]

Originally Posted by Busy Bee

Any scoop of who the architect is? I know Stagg likes to use Marin, Aufgang, etc. for many of their projects, although the end product is often disappointingly value engineered from the original tease renderings. Hoping for the best here. It's a very visible site and deserves something good looking. The wedge shape of the lot presents some interesting opportunities. Wondering how many floors this will go?

I'm also curious if they're planning on building a ped bridge from the development over the tracks directly into Fordham campus... That would make a ton of sense.

Not sure. So far, only demo permits have been filed for a small parking structure.